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Punjab Sales Tax on Services Act, 2012
QUESTION #2557
Question 1
Under section 16A(1), the threshold aggregate amount of transactions made to the same person in one tax period that mandates payment through banking channel (excluding utility payments) is:
Correct Answer Explanation
Section 16A(1) as amended by the Punjab Finance Act, 2022 provides that payment of amounts of one or more transactions made to the same person in one tax period where the aggregate exceeds fifty thousand rupees (including sales tax but excluding utility payments) must be made through a crossed banking instrument.
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